We are talking about winnings and bonus funds won according to wagering conditions which are subject to the maximum limits for withdrawing money to players’ bank cards and e-wallets. Online casinos limit cash withdrawals from users’ accounts to certain periods (withdrawal limits per day, week, month, etc.) so that players return to gambling sites and make new bets on slot machines, board games, and card games.
The British Competition and Market Authorities expressed the hope that other gambling operators on the Internet would follow the example of Jumpman Gaming and Progress Play and abandon the practice of phasing out winnings. Relevant regulations are sent to the largest online casinos in the UK. In particular, as for freezing of unidentified users’ accounts, the document states that operators have the right to confiscate users’ funds under any circumstances, which, in fact, occurs when customer profiles are blocked. At the same time, the organization does not insist that the owners of unconfirmed accounts have the right to withdraw winnings from their accounts, on the contrary, tightening the rules aimed at combating money laundering.
The CMA was supported by the United Kingdom Gambling Commission (UKGC). Commission Executive Director Paul Hope said that the regulator’s goal is to raise standards in the field of online gambling and to provide better service to customers of virtual gambling establishments. A UKGC statement says that all UK licensed casinos should consider switching to the new rules.
Jumpman Gaming company was founded in 2015 and registered on the island of Guernsey as part of the Channel Islands, which is considered the possession of the British crown but is not a part of the UK. Jumpman Gaming is developing a platform for online casinos with its own video slots, online bingo, and a single local currency. First of all, Jumpman Gaming is focused on creating content for mobile devices.
Progress Play, a company registered in Malta, offers gambling operators a full-featured solution for creating online casino sites. It has a gambling license of two states (Malta and the United Kingdom) and cooperates with the Malta Gambling Authority and the United Kingdom Gambling Commission strictly following the rules established by these organizations. Partners of Progress Play are such game developers as NetEnt, Microgaming, NextGen, Scientific Games, Genesis, Quickspin, Rabacat, Endemol, ELK and other companies
